All Topics / Finance / Fixed Or Variable Loan – That is the question….

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  • Profile photo of bjb007bjb007
    Participant
    @bjb007
    Join Date: 2003
    Post Count: 69
    April 20, 2008 - 11:41 pm

    Hi all…

    What do you think one should go for in the current climate of interest rates? Fixed or Variable.

    There's a lot of talk about rates coming off the boil and even dropping by early next year. Then again they could hit 10%.

    Dilemma – would you maybe even split the loan 50fixed/50variable?

    Just wanted to get a feel for what people are thinking at the moment.

    Cheers

    Profile photo of god_of_moneygod_of_money
    Participant
    @god_of_money
    Join Date: 2008
    Post Count: 970
    April 21, 2008 - 9:10 am

    It depends on your current circumstances. I am always go for variable as it is easier to manage my cashflow/ direct credit salary/ redraw etc… and it will significantly lower the fixed rated. It is difficult to time the cycle of interest rates. Lots of gossips in the newspaper but no one has crystal ball to  predict the future economic climate including RBA. Cheers Don

    Profile photo of James_JohnsonJames_Johnson
    Member
    @james_johnson
    Join Date: 2005
    Post Count: 86
    April 21, 2008 - 9:49 am

    fix it.
     
    Many people fix their rates and then they like it and are happy whenever rates go up because it just gives them an excuse to hike up the rent tenants pay but they don't feel a thing.

    Profile photo of Stuart WemyssStuart Wemyss
    Member
    @stuart-wemyss
    Join Date: 2003
    Post Count: 598
    April 21, 2008 - 11:34 am

    We prepare an interest rate advisory note which you might be interested in reading – go to http://www.prosolution.com.au/IRAN.pdf

    Hope that helps.

    Regards

    Stuart

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